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Model Paper 4 — Accountancy STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceAccountancyModel Paper 41 Mark
MCQ
The incoming partner cannot acquire his share of profits:
  • A
    From one or more partners (not from all partners)
  • B
    From the old partners in their old profit sharing ratio
  • C
    From the old partners in their new profit sharing ratio
  • D
    From the old partners in some agreed ratio
✓

Answer

(c) From the old partners in their new profit sharing ratio
Explanation:
A new partner can acquire his share of profits from the old partners in their old profit sharing ratio or from one partner or from the old partners equally. But he cannot acquire his share of profit from the old partners in the new profit sharing ratio because the new profit sharing ratio is fixed only after the admission of the new partner. New partner only can get his share from only old partner or partners.

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